Shri Krishna Devcon sets Sep 29 AGM; reappoints Sunil Kumar Jain
- Shri Krishna Devcon schedules its 32nd AGM for September 29, 2026, via video conference
- Shareholders to vote on reappointing Sunil Kumar Jain as MD and Naveen Kumar Jain as ED
- Board seeks approval for up to ₹45 crore in unsecured borrowings from promoters at 12% interest
- Proposed investments of up to ₹25 crore annually in four associate partnership firms
*this image is generated using AI for illustrative purposes only.
Shri Krishna Devcon has scheduled its 32nd Annual General Meeting (AGM) for Tuesday, September 29, 2026. The board approved the reappointment of Sunil Kumar Jain as Managing Director and Naveen Kumar Jain as Executive Director for three-year terms starting November 1, 2026.
The company filed the AGM notice with BSE Limited on September 5, 2026. The meeting will be conducted via Video Conferencing or Other Audio-Visual Means at 4:30 pm. The board also sought shareholder approval for material related-party transactions involving unsecured borrowings from promoters and investments in associate firms.
Director Reappointments
Sunil Kumar Jain will serve as Managing Director for a three-year period ending October 31, 2029. He holds a commerce degree and has over 30 years of experience in real estate. His monthly remuneration is set at ₹9 lakh, plus perquisites including house rent allowance, medical reimbursement, and leave encashment.
Naveen Kumar Jain will continue as Executive Director for a similar three-year term. A commerce graduate with over 20 years of experience in real estate and infrastructure, his monthly remuneration is fixed at ₹7 lakh with similar perquisites.
Both appointments are subject to shareholder approval at the AGM. The board approved the remuneration structure during its meeting on September 2, 2026. Additionally, Mr. Mukesh Kumar Jain retires by rotation and offers himself for reappointment as a director.
Related Party Transactions
The AGM agenda includes special resolutions to approve material related-party transactions for FY27 to FY29. The company proposes to avail unsecured borrowings from promoters Sunil Kumar Jain, Naveen Kumar Jain, and Mukesh Kumar Jain.
| Transaction Type | Estimated Amount (FY27-FY29) | Interest Rate |
|---|---|---|
| Unsecured Borrowings | Up to ₹45 crore cumulatively | Up to 12% p.a. |
| Repayment of Borrowings | Up to ₹45 crore cumulatively | - |
| Interest Payment | Up to ₹30 crore cumulatively | - |
The funds are intended for working capital and general corporate purposes. The borrowings are repayable on demand with a 15-day notice period and carry no collateral requirements. The company also seeks approval for investments in associate partnership firms—Rose Builttech, Avani Buildcon, Shri Krishna Buildcon, and Maa Shipra Enterprises—up to ₹25 crore per year for each firm.
AGM Schedule and Voting
The register of members will remain closed from September 23, 2026, to September 29, 2026. Shareholders can cast votes through remote e-voting facilitated by Central Depository Services (India) Limited.
| Voting Detail | Date/Time |
|---|---|
| Cut-off date for entitlement | Tuesday, September 22, 2026 |
| Remote e-voting starts | 9:00 am on Saturday, September 26, 2026 |
| Remote e-voting ends | 5:00 pm on Monday, September 28, 2026 |
CS Balkrishan Pradhan of B. K. Pradhan & Associates has been appointed as the scrutinizer for the voting process. The board also approved the annual report for the year ended March 31, 2026.
Historical Stock Returns for Shri Krishna Devcon
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +6.23% | +1.55% | -9.77% | -15.49% | -15.49% | -15.49% |
How might the proposed unsecured borrowings at up to 12% p.a. impact Shri Krishna Devcon's net profit margins and overall debt-to-equity ratio over the FY27-FY29 period?
What strategic rationale drives the company's plan to invest up to ₹100 crore cumulatively across four associate partnership firms, and how will these entities contribute to the group's revenue diversification?
Given the reliance on promoter-funded capital, what contingency plans does management have in place if internal cash flows prove insufficient to service the ₹45 crore borrowing facility on demand?
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